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20121112
20121120
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of finance jeremy siegel and trusted american businessman steve forbes. both onset and ready to start this discussion at 6:00. first, though, andrew has a few of the top business headlines. >>> let's talk about some of the headlines this morning. cisco systems buying cloud network start up meraki for $1.2 billion in cash. it was founded in 2006 by members of m.i.t.'s laboratory for computer science. joe, i don't know if you take credit for any of that. bp plans to spend up to $5.9 billion buying back stock. last week the oil giant agreed to pay record criminal penalties over the deepwater horizon disaster. and americans are carrying more credit card debt and being less diligent about making on time payments. trans union now reporting that average credit card debt for borrowers grew 4.9% in the third quarter and meantime the rate of credit card payments at least 93 days overdue rose slightly to three quarters of a percent. this is still a historically low level suggesting most card holders prioritize card payments over other financial obligations such as a mortgage. and attention twink
andrew ross sorkin and steve liesman. joe is out sick. we hope he's feeling better. futures are rebounding a bit. stocks finished near session lows yesterday, down 185 points at the end of the day. all the major s&p sectors closed in negative territory. nasdaq and russell 2,000 are now down more than 10% since the highs they reached back this mid september. the green arrows will be welcome to the bulls today. also, the ceo of mellon will be joining us to talk about the markets. as we've been talking about, the biggest issue for the markets right now seems to be the uncertainty surrounding the fiscal cliff. yesterday business leaders urged president obama and lawmakers to prevent a year end across board tax rise that will go into act unless congress acts. >> he understands it requires a combination of tax increases and title refor and discretionary spending cuts that dnl democrats and republicans have to work together. i'm is sure there will be a lot of forth and back between republicans and democrats, the congress and the president as they start to work their way to a deal.
the other side. i think you're more with steve on this. do you think that maybe there's a little bit of slowing but it's a huge opportunity? >> well, for me, we're seeing the worst is behind us. i think q3 data have shown to us the trade volumes, the in and outs recovering from our perspective, our ships are looking well. you look at our ships 95% fully laden from asia to europe, frankly, at this point in time our ships are 100% fully laden, and people have to understand that we talk about international trades, with he talk about value. for our business we talk about the volume. value is one thing but volume is another thing, and during good times, frankly speaking probably you know, goods are more valuable, probably value is good, and in bad times people will take for more high value commodities, gifts to low value, but potentially more volume-driven commodities, we're seeing the consumers shift in more and more towards low end consumer products. i think you see that from walmart, from jcpenney, on the show about ten minutes ago. so those things are happening. that's the fundamental
, steve? >> is this japan? >> they shouldn't be increasing the quota? >> why? >> because they have no idea about the stocks. they try to pretend there's one stock in the mediterranean, one stock in the atlantic, they have no idea. it's bad data leading to bad decision. >> if earn to take this conversation, you know what it would lead to? the tragedy of the commons. >> good point. >> when there's ownership of something, you conserve. when anybody -- everybody going after the same thing, they figure if i don't do it, somebody else is going to do it. if you own timber, every time you take down a tree, you plant two more. >> much better about protecting the resource and the europeans contend they have their own stock. but we've shown through the tagging data that these fish go across the mediterranean to the atlantic, up and down the coast, it's an extraordinary fish, a good one to preserve. >> okay. >> okay. >> let's go back to steve since you're there. you've got an interesting report, and i promise you i'll be listening very carefully about the fiscal cliff and who is going to be impacted.
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better in this business than what les has done at cbs and steve burke doing a great job at nbc universal and bob eiger. you have great people running the broadcast networks, facing an issue, viewership is changing and this is where i think it's an advantage for us. people watch broadcast networks for shows and people watch cable networks because they like the brand and they feel that that channels where they want to hang around. discovery on friday night we're the number one network in america for men. we even beat the broadcasters with "gold rush" and "jungle gold." if you ask people why they turn to discovery they get home, have dinner with their kids and then what do they want to watch? they don't turn to us for a show, they turn to us because they feel like that's my channel, same for tlc, on friday nights with women, we're number one and we're also number one on sunday nights with women. if you ask our audience, when you watch tlc, name the shows you're watching. they can name only one or two, and so the cable business has this great trend of viewership. people moved away from wanti
Search Results 0 to 5 of about 6